Daily Archives: October 4, 2017

Circular No 8/8/2017 GST : Furnishing of Bond/LUT for exports

By | October 4, 2017

Circular No 8/8/2017 GST [ also refer Clarifications on exports related refund issues Circular No 37/11/2018 GST  Dated the 15th March, 2018 ] [ In partial modification of Circular No. 8/8/2017-GST dated 4th October, 2017, sub-paras (c), (d) and (e) of para 2 of the said Circular are replaced by Circular No 40/14/2018 GST dated April 6, 2018 ]… Read More »

Notification No 37/2017 Central Tax : Extension of LUT to all exporters

By | October 4, 2017

 Notification No 37 /2017 Central Tax Notification on extension of facility of LUT to all exporters issued vide Notification No 37 /2017 Central Tax Datd 4 th October, 2017 [ Also Refer : Clarifications on exports related refund issues Circular No 37/11/2018 GST  Dated the 15th March, 2018 ] [To be published in the Gazette of India, Extraordinary,… Read More »

Non payment of self assessment tax attracts penalty under Income Tax Act : ITAT

By | October 4, 2017

Whether an assessee is liable to penalty under section 221(1) of the Act in a case in which the though the assessee has not paid the self assessment tax under section 140A, while filing the return of income, but revises the income, by filing revised return of income, and pays the tax on the revised… Read More »

Two assets falling within tangible and intangible assets constitute single block of assets

By | October 4, 2017

Section 2(11) of the Indian Income Tax Act, 1961 specifies as only two class of assets i.e. tangible and intangible assets and within these two classes of assets, assets having same rate of depreciation are prescribed and they fall within the same block. Whereas, the concept of an asset falling within the same block is… Read More »

Migration from e-mail based communication to E-Proceeding : Format

By | October 4, 2017

Annexure-A: Migration of email based E-Assessment to E-Proceedings in ITBA Dear Taxpayer, Subject: Migration of ongoing scrutiny proceedings from ‘e-mail based communication’ to ‘E-Proceeding’ on Income-Tax Business Application (ITBA) platform of Income-tax Department for PAN_________, Assessment Year ________ -regd.- Greetings from the Income-tax Department. We thank you for your co-operation and look forward to bring… Read More »